KARACHI: The Punjab government's newly launched Punjab Innovation for Value, Opportunity and Transformation (PIVOT) programme is being hailed as a significant move for enhancing industrial investment and export capabilities, according to Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF). Unveiled by Chief Minister Punjab Maryam Nawaz Sharif in Lahore on October 30, the programme is seen as vital for expanding productive capacity, mobilising private investment, and generating employment opportunities.
According to Pakistan Businessmen and Intellectuals Forum, the PIVOT programme for 2026-2029 is set to channel approximately Rs1,995 billion in investments, with Rs1,089 billion from public funds and an anticipated Rs906 billion from private sector contributions. Hussain emphasized the importance of policy continuity, timely approvals, and essential infrastructure to attract private investment. He noted that effective use of public resources could catalyze industrial growth and unlock new opportunities for private capital.
The programme outlines Rs753.7 billion for the industrial sector and Rs300 billion in concessional financing for industrial projects, with interest rates between zero and 5 percent. This affordable capital is expected to help businesses modernize machinery, boost production, and enhance export order fulfillment. Hussain suggested that clearer details on loan eligibility and related procedures be provided under the Strategic Trade Enhancement Programme (STEP), with progress updates made available online to ensure transparency and accessibility for small and medium enterprises.
Additionally, allocations of Rs50 billion each for solar energy, battery storage, and machinery duty refunds are aimed at reducing production costs and modernizing industry. Hussain stressed the need for simple and transparent access to these facilities, with support evaluated against potential energy savings and project viability to ensure sustained industrial competitiveness.
Further, the programme focuses on promoting common facilities and certification for industries like garments, leather, and ceramics to diversify exports. Proposed agro-processing parks in regions such as Sargodha and Khanewal are expected to enhance farmer-industry linkages and reduce agricultural losses. Hussain urged alignment with international standards and buyer requirements for these initiatives.
The programme's targets include $6.8 billion in additional exports and 162,000 new direct jobs. Achieving these goals will necessitate specific targets, timelines, and responsibilities for involved institutions. Quarterly reporting on various metrics, including public fund release and private investment realization, is recommended to bolster transparency and accountability.
Hussain advocated for collaboration between federal and provincial governments to maximize the programme's benefits nationwide. He called for opportunities for local suppliers, SMEs, women-led businesses, and industries in disadvantaged areas, with technical training aligned to industry needs. Highlighting the potential of timely financing and streamlined business procedures, he urged other provincial governments, including Sindh, to draw inspiration from Punjab's initiative to foster industrial modernization and business development.